The gif format does not support a full alpha (transparency) channel, so
if you want antialiasing, you need to know the color of your background
first, merge it with your text, color-select the background color, then 
delete it.  You should be left with the text surrounded by a little bit
of the background color (actually closer to the text color).         
  The png format does support a full alpha channel, although, only some 
browsers make use of this feature (mozilla and IE5.?).  I don't rely on
it, rather use one bit of transparency and keep the .xcf file around in
case if I ever need to change the background color.  I'm not getting in 
a debate as to what the best format is.  Most antialiasing uses 8 to 16 
colors, so you shouldn't get a loss in quality.

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